Eric Balchunas(@EricBalchunas):Hard to blame investors either given AGG hasn't kept up with inflation AND cannot be trusted to hedge stocks as it is now less likely than in the past to post a gain on days when the S&P 500 falls. It used to go up 90% of time SPY down. Now it's 40%. Major development.

Eric Balchunas

@EricBalchunas

Senior ETF Analyst for @Bloomberg. Dad. Rutgers grad. Gen X-er. Author of "The Institutional ETF Toolbox" & "The Bogle Effect.” Co-host of Trillions & ETF IQ.

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Eric Balchunas@EricBalchunas

2026.09.23 17:28

Hard to blame investors either given AGG hasn't kept up with inflation AND cannot be trusted to hedge stocks as it is now less likely than in the past to post a gain on days when the S&P 500 falls. It used to go up 90% of time SPY down. Now it's 40%. Major development.